BYD releases Yangwang U9, a $150K luxury EV supercar

Automaker BYD (BYDDY, 1211.HK) will release its EV luxury supercar, the Yangwang U9, at a staggering price tag of $150,000. The automaker had surpassed Tesla (TSLA) as the largest EV maker in terms of overall sales and looks to continue its global dominance.

Yahoo Finance Reporter Pras Subramanian joins the Live show to break down the latest development for the company and what it could mean moving forward.

For more expert insight and the latest market action, click here to watch this full episode of Yahoo Finance Live.

Editor's note: This article was written by Nicholas Jacobino

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AKIKO FUJITA: Well, in the market for a $150,000 electric supercar? Well, BYD's new car may be for you. The U9 released under the Yangwang brand is hitting the market this year. To break this down for us, we've got Yahoo Finance's Pras Subramanian. Pras, of course, BYD surpassed Tesla as the largest EV maker in terms of sales. That was on the lower end. Talk to me about the strategy competing on the higher end.

PRAS SUBRAMANIAN: Yeah. So we know BYD in Q4 passing Tesla there with that overall EV sales sort of metric there. But yeah, the Yangwang U9, I think of it as Yangwang being like BYD's Lexus in terms of BYD being a Toyota right there, premium luxury brand there. The U9 there-- the Lamborghini looks, sportscar, super sports car there. But the car will have also 1,000 horsepower, so there's no slouch. And it only costs, like you said, $150,000. There are a couple other electric EV supercars out there, Lotus Evija, the Rimac Nevera among others. But those are several million apiece. This car is actually a relative deal here.

You know and we haven't seen Lamborghini or Ferrari put out their full EV supercars just quite yet. So BYD with the Yangwang brand will have that out there right now. And as a fun-- as-- all the fun aside, this U9 is basically a halo car for BYD. Like you said-- as you said-- as you mentioned, is that it takes on Tesla and surpasses them for total EV sales in the-- globally.

RACHELLE AKUFFO: If at some point they enter the US market, that's going to-- that's going to be tough. That's gorgeous.

PRAS SUBRAMANIAN: I'm waiting.

RACHELLE AKUFFO: I appreciate you. You always break-- I know, right? Because not only for the cheaper ones but some of these incredible supercars here.

PRAS SUBRAMANIAN: I mean, that's 911 pricing there, $150,000. That's a pretty-- I mean, I could see that car doing quite well here if it actually comes out.

RACHELLE AKUFFO: Oh, well, we shall see. Thanks to our very own car connoisseur, Pras Subramanian. Thanks so much.

PRAS SUBRAMANIAN: Thank you.